Global PCR Market Gains Momentum from Rising Demand for Advanced Molecular Diagnostics, to Reach US$9.6 bn by 2020

According to a report, recently published by Transparency Market Research (TMR), the global polymerase chain reaction (PCR) market is estimated to expand at a CAGR of 6.60% between 2014 and 2020. Analysts expect its register a rise from US$6.1 bn in 2013 to US$9.6 bn by 2020.The research report is titled “Polymerase Chain Reaction (PCR) Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2020.”

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Polymerase chain reaction (PCR) is a technique of producing a number of replicas of a particular DNA sequence, which involves recurrent reactions with a polymerase. This method is highly efficient in the detection and the monitoring of genetic diseases and is extremely useful in studying the operation of targeted segment and forensic examinations.

The growing demand for innovative molecular diagnostic techniques in the accurate identification of several diseases is boosting the global PCR market significantly. Constant advancements in diagnostic techniques are also driving the growth of this market. In addition to this, the growing need for automated devices and the increasing production of customized medicines are expected to propel this market over the forecast period, states the report.

In this study, the global PCR market has been assessed on four fronts: Product, application, end user, and the region. On the basis of product, the market has been categorized into the instruments segments and the reagents and consumables segments. In 2013, the global market was dominated by the reagents and consumables segment with a share of 67%.

Based on application, the market has been classified into life sciences, clinical diagnostics, and other application. The life sciences segment led the worldwide market for PCR in 2013 with a share of 48%.

By end user, the market has been segmented into pharmaceutical and biotechnology industries, hospitals and clinical diagnostics labs, academic and research organizations. The academics and research organizations segment acquired the leading position among the end users of PCR across the world in 2013, states the report.

Geographically, the report segments the worldwide market for PCR into Asia Pacific, North America, Europe, and the Rest of the World. North America led the global market in 2013. It attained a value of US$2,614 mn that year and is likely to reach US$3,944.6 mn by the end of the forecast period. On the flip side, the Asia Pacific PCR market is anticipated to record the highest growth rate among all the regional markets over the forecast period, notes the study.

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This release was published on openPR.